Last Updated : Jan 01, 2019 12:31 PM IST | Source:

CMI shares rally 6% on order for supply of cadmium catenary wire

The company received order worth Rs 106.64 crore from East Coast Indian Railways.

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CMI shares climbed 5.6 percent intraday Tuesday after the company secured contract for supply of cadmium catenary wire.

"....has secured L1 position for supply of cadmium catenary wire to East Coast Indian Railways for a value of Rs 106.64 crore," the cable manufacturer said in its filing.

The tender was decided through a reverse auction process, it added.

At 12:20 hours IST, the stock was quoting at Rs 181.50, up Rs 6.35, or 3.63 percent on the BSE.
First Published on Jan 1, 2019 12:31 pm